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The Digital Gold – How to Acquire, Store, & Keep It?

The first crypto coin to get an official launch on the digital market has managed to hold strong positions. According to the official list of cryptocurrencies by market cap, it has held the No. 1 position ever since the day that it was released. This is quite the achievement given the fact that dozens of new digital tokens get started up on a daily basis.

Some experts even refer to it as ‘the digital gold’ as the average Bitcoin value is already that of one ounce of the said precious metal. All cryptocurrency news point out the fact that this tendency will most likely only get stronger in the upcoming months. Even the cryptopocalypse did not manage to destabilize its market positions for long.

In fact, it can be said that it only went to prove how resilient and resistant to change it actually is. Many consider that it can be more financially rewarding and remunerative to invest in Bitcoin rather than in stocks and bonds. People who used to trade hedges now prefer to trade crypto.

This is why crypto mining may not be as attractive as Bitcoin trading is. Its supply is getting more and more limited, meaning that only users with the most sophisticated mathematical and investment skills will be able to solve the complex puzzles and equations that its blockchain is composed of.

Bitcoin trading, on the other hand, is extremely lucrative. Users are enabled to purchase just a fraction of the crypto token, rather than a whole unit which could be heavy on their annual budget. Their investment strategy of choice is entirely up to them. They can even opt for one of the many legit crypto robots or Bitcoin brokers to do the job for them.

Interesting Fact:

The current Bitcoin value is estimated as registering a bigger growth pattern than that of the FAANG stocks ( the five technological giants – Facebook, Amazon, Apple, Netflix, and Google). This fact proves that most of the crypto coin’s critics were not right at all to jump to hasty conclusions and state that its price would burst in an instant bubble. It is still the most lucrative digital asset that users could have in their possession.

Opening a Bitcoin Account – Getting the Bitcoin Login Right!

The first thing to remember when being in possession of such a valuable digital asset is to keep it completely secure under a virtual lockdown in a Bitcoin wallet app. Of course, the possible choices are many. They are also hardware Bitcoin wallet downloads.

It can be said that the best Bitcoin wallets offer an eased Bitcoin account sign-up process. Users have to remember not to show their Bitcoin account numbers and Bitcoin wallet address to anyone as this could lead to possible hacks. One must even double encrypt and secure it when one proceeds to create a Bitcoin address.

This can be done by providing no second party the private key for the Bitcoin account login. Another good strategy is for the individual to avoid telling anyone except the closest family members that he or she is in possession of a bigger amount of crypto tokens.

Choosing the Best Bitcoin Wallet – Do Lots of Research!

Digital coins are mainly stored in two different ways – in a crypto wallet which only the user has the private key for or in a cryptocurrency exchange platform which keeps them safe for the individual. Traders can decide for themselves which method they prefer the most.

Bitcoin wallets themselves can be hosted by a cryptocurrency exchange. They can also be online, offline, software, hardware, and the so-called paper ones. The latter are virtual platforms that are created on the base of traditional cold storage. Their level of security depends entirely on how and where the paper itself is stored.

This is why the most important thing is to keep doing research until the user is certain that he or she has found the best Bitcoin wallet that could serve their needs. They should read the terms, agreements, and policies of the given software very carefully and never miss out on the finer print.

How to Work With Crypto Wallets?

Users should not think that holding a Bitcoin wallet and a real-life one is the same thing. Crypto wallets do not store the virtual currency, it keeps the public and private keys that give access to it secure. One can also think of them as a type of PIN that lets the client do whatever he or she wishes with the acquired earnings.

The sending of crypto coins from one Bitcoin account to the other is basically the transfer of value. One recipient gives another a certain amount of tokens via the transaction process. This can be done willingly or it can be done as a type of payment.

In order for the individual to be able to use and apply the said crypto tokens, his or her private keys must match the public address that they were sent to. This makes the owning of the former extremely important. It is regarded that only the person who holds the account may be in possession of them.

The best thing that one could do to ensure that this is so is to keep the keys hidden from outsiders. Losing them would mean that the individual cannot access the Bitcoins that he or she has mined for or invested in.

What to Do to Keep the Bitcoin Account Safe?

There are several important things that users have to do in order to keep their crypto wallets secure. Choosing a strong password and seed (the private key recovery phrase that must be at least 12 digits long) are not sufficient enough on their own.

The following measures will help keep the Bitcoin wallet safe even if the user deletes the cryptocurrency exchange app by mistake or breaks the hardware wallet. Let’s take a look at what they are:

Pick a Strong & Unique Bitcoin Account Password & Seed;

Make Sure to Activate the 2FA (Two-Factor Authentication);

Stay Alert for Phishing Attacks;

Don’t Click or Open E-Mails That Come From Unknown Sources;

Don’t Open Unidentified Links on Social Media;

Don’t Download Unnecessary Attachments;

Don’t Open Your Bitcoin Account Using Public Wi-Fi Networks;

Adopt a User Name & E-mail Address That Have No Relation To You In Real Life;

Don’t Provide Strangers With Sensitive Personal Information;

Better to Open Cold Storage Crypto Wallets Than Ones That Require Internet Connectivity;

Manage the Crypto Account Carefully!

Users should not view the crypto coins they have acquired as their most prized possession. They should think of the private and public keys for their Bitcoin accounts in this way. Undertaking the necessary precautions should help them keep the earnings that they have acquired via crypto trading completely secure.

Double-checking is a necessary tool that can help the user stay calm and certain that everything is okay. Bitcoin investments can be done to achieve real and positive daily results. One just has to know how to keep them safe afterward.

The digital coin is quickly becoming ‘the digital gold’ of the modern era. There are a lot of people that will do everything they can to get their hands on it. So stay secure and invest wisely!

DISCLAIMER: All Information such as Winning Ratios, Results and Testimonials are to be regarded as simulated or hypothetical. All the information on this website is not intended to produce nor guarantee future results. There's no guarantee of specific results and the results can vary.RISK DISCLAIMER: Forex and CFD trading is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital; therefore, you should not speculate with capital that you cannot afford to lose. You may need to seek 3rd party financial advice before engaging in Forex and CFD trading.